Diesel diplomacy will decide the midterms

Nothing promotes economic growth more assuredly than cheap energy. Nothing dampens economic growth more comprehensively than high energy costs — and this is particularly true with regards to diesel fuel. Over 90% of freight in the UK moves by heavy-goods vehicle. Despite mandates to electrify the fleet, almost all these trucks still run on diesel. Diesel prices therefore impact everything you buy, and are critical to the construction, agriculture and manufacturing sectors. The 40% rise in UK diesel prices this year has increased inflation; slowed economic growth; and made interest-rate cuts much less likely. This painful price rise is a result of both current events and long-term, structural problems.